Key Points
- Insider sale: Nathan Mata sold 1,000 shares on April 22 at an average price of $170.38 for $170,380, reducing his stake by 8.57% to 10,666 shares valued at about $1.817M (disclosed in an SEC filing).
- Belite Bio (NASDAQ:BLTE) opened at $164.45 with a market cap of $6.57B and a 12‑month range of $56.10–$200; the company beat quarterly EPS estimates (‑$0.38 vs. ‑$0.56) and analysts have a consensus rating of Moderate Buy with an average target of $202.33.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $170.38, for a total transaction of $170,380.00. Following the completion of the transaction, the insider owned 10,666 shares in the company, valued at $1,817,273.08. This represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Belite Bio Trading Down 1.8%
BLTE stock opened at $164.45 on Friday. The stock has a market cap of $6.57 billion, a P/E ratio of -71.50 and a beta of -1.22. Belite Bio, Inc. Sponsored ADR has a twelve month low of $56.10 and a twelve month high of $200.00. The company's 50 day moving average is $169.65 and its two-hundred day moving average is $147.70.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, equities research analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Belite Bio by 11.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock valued at $130,000 after purchasing an additional 176 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock worth $87,000 after buying an additional 257 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Belite Bio by 28,200.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company's stock valued at $45,000 after buying an additional 282 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Belite Bio in the 4th quarter valued at approximately $103,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Belite Bio in the fourth quarter valued at approximately $108,000. 0.53% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Wall Street Zen raised Belite Bio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Cantor Fitzgerald upped their target price on Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Belite Bio in a research note on Tuesday, April 7th. Mizuho set a $223.00 price target on Belite Bio in a research report on Thursday, February 19th. Finally, Benchmark reaffirmed a "buy" rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $202.33.
Get Our Latest Report on BLTE
About Belite Bio
(
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Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.
Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.
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